The US Treasury yields have risen following a volatile weekend that saw the Strait of Hormuz reopen and subsequently closed by Iran, resulting in a two-week ceasefire. The 10-year Treasury note, the key benchmark for U.S. government borrowing, rose by over two basis points to 4.267%. The 2-year note yield was more than 3 basis points higher at 3.73%. The longer-dated 30-year bond yield remained largely flat. Despite efforts to resume talks between the two countries, Iranian foreign ministry spokesperson Esmaeil Baqaei stated there was no plan for a second round of negotiations.